WGL Holdings Inc. (NYSE:WGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “WASHINGTON GAS LIGHT CO is a public utility that delivers and sells natural gas to metropolitan Washington, D.C. and adjoining areas in Maryland and Virginia. A distribution subsidiary serves portions of Virginia and West Virginia. The Company has four wholly-owned active subsidiaries that include: Shenandoah Gas Company (Shenandoah) is engaged in the delivery and sale of natural gas at retail in the Shenandoah Valley, including Winchester, Middletown, Strasburg, Stephens City and New Market, Virginia, and Martinsburg, West Virginia. “
WGL Holdings (NYSE:WGL) traded down 0.13% during midday trading on Thursday, reaching $59.48. The company’s stock had a trading volume of 69,090 shares. The firm has a market cap of $3.04 billion, a P/E ratio of 16.82 and a beta of 0.57. The firm has a 50 day moving average price of $63.15 and a 200 day moving average price of $67.23. WGL Holdings has a one year low of $57.04 and a one year high of $74.10.
WGL Holdings (NYSE:WGL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. WGL Holdings had a net margin of 7.61% and a return on equity of 11.60%. The firm earned $440.60 million during the quarter, compared to the consensus estimate of $482.57 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts forecast that WGL Holdings will post $3.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, October 5th. WGL Holdings’s payout ratio is 55.08%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC increased its position in shares of WGL Holdings by 1.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,690 shares of the company’s stock valued at $615,000 after buying an additional 90 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of WGL Holdings during the second quarter valued at $1,625,000. Royal Bank of Canada increased its stake in shares of WGL Holdings by 1.3% in the second quarter. Royal Bank of Canada now owns 57,319 shares of the company’s stock valued at $4,058,000 after buying an additional 708 shares during the period. Lebenthal Holdings LLC purchased a new stake in shares of WGL Holdings during the second quarter valued at $2,690,000. Finally, Calvert Investment Management Inc. increased its stake in shares of WGL Holdings by 9.3% in the second quarter. Calvert Investment Management Inc. now owns 11,762 shares of the company’s stock valued at $833,000 after buying an additional 1,004 shares during the period. 68.41% of the stock is owned by institutional investors.
About WGL Holdings
WGL Holdings, Inc (WGL Holdings), is a United States of America-based public utility holding. Through its wholly owned subsidiaries, it sells and delivers natural gas and provides energy-related products and services to customers primarily in the District of Columbia and the surrounding metropolitan areas in Maryland and Virginia.
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